TEGNA (NYSE:TGNA) Cut to Hold at Wells Fargo & Company

Wells Fargo & Company cut shares of TEGNA (NYSE:TGNA) from a strong-buy rating to a hold rating in a research note issued to investors on Thursday morning,Zacks.com reports.

A number of other research firms also recently issued reports on TGNA. Guggenheim reissued a “neutral” rating and set a $19.00 price target on shares of TEGNA in a research report on Friday, August 22nd. Zacks Research cut TEGNA from a “hold” rating to a “strong sell” rating in a report on Friday, October 10th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of TEGNA in a research report on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $19.75.

TEGNA Stock Performance

Shares of TGNA stock opened at $20.03 on Thursday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.47 and a current ratio of 1.47. The firm has a market capitalization of $3.23 billion, a price-to-earnings ratio of 7.21 and a beta of 0.25. TEGNA has a one year low of $14.87 and a one year high of $21.35. The company has a 50 day moving average price of $20.63 and a 200 day moving average price of $18.16.

TEGNA (NYSE:TGNA) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.06. The company had revenue of $675.05 million during the quarter, compared to analysts’ expectations of $673.92 million. TEGNA had a net margin of 14.99% and a return on equity of 16.20%. The business’s quarterly revenue was down 5.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.50 EPS. TEGNA has set its Q3 2025 guidance at EPS. Sell-side analysts anticipate that TEGNA will post 3.02 EPS for the current year.

TEGNA Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Friday, September 5th were paid a $0.125 dividend. The ex-dividend date was Friday, September 5th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.5%. TEGNA’s dividend payout ratio (DPR) is 17.99%.

Hedge Funds Weigh In On TEGNA

A number of institutional investors and hedge funds have recently bought and sold shares of TGNA. Meritage Portfolio Management grew its position in TEGNA by 2.7% in the second quarter. Meritage Portfolio Management now owns 25,801 shares of the company’s stock valued at $432,000 after acquiring an additional 688 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of TEGNA by 15.9% in the first quarter. PNC Financial Services Group Inc. now owns 5,058 shares of the company’s stock valued at $92,000 after purchasing an additional 694 shares during the period. Parkside Financial Bank & Trust grew its holdings in TEGNA by 12.6% during the 2nd quarter. Parkside Financial Bank & Trust now owns 6,295 shares of the company’s stock valued at $106,000 after purchasing an additional 706 shares in the last quarter. Police & Firemen s Retirement System of New Jersey grew its holdings in TEGNA by 2.3% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 36,978 shares of the company’s stock valued at $620,000 after purchasing an additional 838 shares in the last quarter. Finally, Blue Trust Inc. increased its stake in TEGNA by 26.0% during the 1st quarter. Blue Trust Inc. now owns 4,227 shares of the company’s stock worth $77,000 after buying an additional 873 shares during the period. Hedge funds and other institutional investors own 92.19% of the company’s stock.

TEGNA Company Profile

TEGNA Inc, a media company, provides broadcast advertising and marketing products and services for businesses. The company operates 47 television stations in 39 markets of the United States that produce local programming, such as news, sports, and entertainment. It offers local and national non-political advertising; political advertising; production of programming from third parties; production of advertising materials; and digital marketing services, as well as advertising services on the stations' Websites, tablets, and mobile products.